What is the structure of an AdWords account from the top down?

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Question:What is the structure of an AdWords account from the top down?

1.Account, ad group, campaign, ad text, and keywords and placements

2.Account, campaign, ad text and keywords, and placements, CPC and budget

3.Account, campaign, ad group, ad text, and keywords and placements

4.Account, budget, ad group, campaign and keywords, and placements

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  1. What is the structure of an AdWords account from the top down?
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